To save on negotiation costs when buying a car
a. Always go towards the end of the day, when the seller does not get a chance to make a counteroffer
b. Threaten to leave if the car dealer says anything but yes to your offer
c. Carry only one cashier's check that cannot be modified
d. All of the above
d
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The implementation lag is
A) the time it takes for policy makers to obtain data indicating what is happening in the economy. B) the time it takes for policy makers to be sure of what the data are signaling about the future course of the economy. C) the time it takes to pass legislation to implement a particular policy. D) the time it takes for policy makers to change policy instruments once they have decided on the new policy. E) the time it takes for the policy actually to have an impact on the economy.
To use an analogy that helps explain the ABCs of economic development: To build a skyscraper, you must first build the foundation. In order for an economy to create economic development, it must first develop a solid
a. network of resources b. production possibilities curve c. infrastructure d. dualist structure e. base for foreign investment and aid